The Finnish process industry “plant lifecycle business ecosystem” is planning to take a quantum leap to improve business efficiency through digitalization. About 50 key experts from more than 20 companies got together at Metso’s premises in Vantaa at August 21st. The workshop was organized by Metso, Collaxion and Digile.
The workshop provided significant views to recent Finnish efforts such as the preceding DBE Core research project, that has collected the most important elements of the UBL (Universal Business Language) standard to so called Core model. It also introduced large companies experiences about the real-life collaboration business pilots and remarkable set of new business digitalization project ideas.
The key conclusion of the preceding DBE Core project showed that the 40 participating companies could have saved nearly 600 million euro annually as transaction costs only. Rather unanimous opinion among the workshop members was that the overall business benefits of full digitalization could be even 5% or more of annual sales. Transaction cost savings was considered to play minor role. The most important benefits would come e.g. from better dependability, improved production efficiency and even from new business opportunity. This is the thing what Finnish process industry is now calling for. The business networks are ready!